Summary of How The Wolf of Wall Street Scam Actually Worked - How Money Works

00:00:00 - 00:05:00

Jordan Belfort, the Wolf of Wall Street, is a former stockbroker who made millions of dollars through fraudulent practices. In this video, he explains how he did it and how Pump and Dump schemes work.

• 00:00:00 The Wolf of Wall Street movie portrays Jordan Belfort as a financial mastermind who raked in millions through shady stock market practices. In reality, Belfort worked at a series of "over the counter" brokerages where he processed trades for stockbrokers who received commissions for doing so. These days, exchanges have disappeared and over the counter firms are more susceptible to fraud.
• 00:05:00 In this video, Jordan Belfort, the Wolf of Wall Street, is shown how he made millions scamming unsophisticated investors. He did this by using high pressure sales tactics and by manipulating the stock market. Now, Pump and Dump schemes are back in style, using different methods such as discord communities and gaming influencers.